Former Restaurant Space on
For Sale
Contact for pricing
2940 Elysian Fields Ave, New Orleans, LA
Vacant restaurant space with parking on high-traffic Elysian Fields.
Property Size1,565 SF
Lot Size0.26 Acres
Price / SF$351.44
Days on Market250
Property Features for 2940 Elysian Fields Ave
General Information
Standard status
Active
Size
1,565 SF
Lot size
0.26 Acres
Property subtype
RETAIL
Listing Agency:
ben + burka
(512) 799-3069
Listed By:
Aaron Kazanoff · License #0995700882
(512) 799-3069
Source:
Moodyscre
Added: Nov 25, 2025
Changed: Jul 10
Last Checked: Jul 21 at 5:44AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ben + burka
Investment Insights
Based on property information with market context.
This former restaurant space is available for lease. Located on a high-traffic section of Elysian Fields Avenue between I-610 and I-10, the property is in close proximity to a number of national restaurants and retailers in Gentilly. The property is vacant and in grey-shell condition. It features a walk-in freezer and cooler, and provides 28 off-street parking spaces. The property size is 1565 square feet.
Key Highlights
- High‑traffic location on Elysian Fields Avenue between I‑610 and I‑10.
- 28 off‑street parking spaces.
- Walk‑in freezer and cooler included.
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $30.0k | $19.20 |
| − Vacancy | −$601 | −$0.38 |
| EGI | $29.4k | $18.82 |
| − OpEx | −$7.4k | −$4.70 |
| NOI | $22.1k | $14.11 |
1,565 SF · lease $19.20/SF/yr · vacancy 2.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$315.5K
$276.1K – $368.1K
NOI $22,085 @ 7.0% cap · market cap 4.02%
Second Best
Retail
$276.1K
$241.6K – $322.1K
NOI $19,325 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$397.8K
$348.1K – $464.1K
NOI $27,844 @ 7.0% cap · market cap 5.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
485
Businesses Nearby
110k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Groceries 40%
Shops & Services 12%
Electronics 1%
Rouses Market
Groceries
44,447 visits/mo
0.4 miles
Popeyes Louisiana Kitchen
Dining
13,740 visits/mo
0.2 miles
Shell
Shops & Services
13,226 visits/mo
0.2 miles
Wendy's
Dining
11,587 visits/mo
0.3 miles
Burger King
Dining
8,077 visits/mo
0.2 miles
Market
Vacancy Rate% for Retail in New Orleans, LA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Une Touché de la Nouvelle Orleans — 2535 Republic St, New Orleans, LA 70119
- Frenchmen Street BnB — 3040 Frenchmen St, New Orleans, LA 70122
Frequently Asked Questions
What type of property is this?
Breakfast & diner - Vacant restaurant space with parking on high-traffic Elysian Fields.
Where is this breakfast & diner located?
The property is located at 2940 Elysian Fields Ave New Orleans, LA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: High‑traffic location on Elysian Fields Avenue between I‑610 and I‑10.; 28 off‑street parking spaces.; Walk‑in freezer and cooler included.
